Iamgold Corporation · TSX:IMG
Iamgold — Investor Presentation (October 2021)
42 slides from Iamgold's investor presentation, October 2021
Slide 1: Corporate Presentation
OCTOBER 2021 CORPORATE PRESENTATION Sunrise over the Côté Gold Project, Canada Corporate Presentation October 2021 TSX: IMG l NYSE: IAG www.iamgold.com
Slide 2: Cautionary Statement
OCTOBER 2021 CORPORATE PRESENTATION Cautionary Statement CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION All information included in this presentation, including any information as to the Company’s future financial or operating performance and other statements that express management’s ex
Slide 3: Technical Information and Qualified Persons
OCTOBER 2021 CORPORATE PRESENTATION Technical Information and Qualified Persons QUALIFIED PERSON AND TECHNICAL INFORMATION The technical and scientific information relating to exploration activities disclosed in this document was prepared under the supervision of and verified and reviewed by Craig M
Slide 4: IAMGOLD – Positioned for Profitable Growth
OCTOBER 2021 CORPORATE PRESENTATION IAMGOLD – Positioned for Profitable Growth Diversified Operating • Operating in three regions (North/South America, W. Africa) with 2021 guidance of 565-605koz1 I Portfolio • Company-wide operational excellence program underway • Zero Harm® commitment and focus on
Slide 5: Developing High Potential Mining Districts in Key Regions
OCTOBER 2021 CORPORATE PRESENTATION I Diversified Operating Portfolio Developing High Potential Mining Districts in Key Regions M&I RESOURCES ATTRIBUTABLE1,2 IAMGOLD Mining District Operating Mine 34% 28% Construction / North West Africa Development Project America Advanced Exploration CHIBOUGAMAU 2
Slide 6: Mining Regions: Key Operating Assets
OCTOBER 2021 CORPORATE PRESENTATION I Diversified Operating Portfolio Mining Regions: Key Operating Assets ESSAKANE ROSEBEL WESTWOOD Burkina Faso Suriname Canada (90% Ownership) (95% RGM | 66.5% (100% Ownership) Saramacca3) W. Africa S. America N. America Stable Producer of ~400kozpa on a Long O
Slide 7: H1 Operating Highlights: Outlook Updated After Challenging Q2
OCTOBER 2021 CORPORATE PRESENTATION I Diversified Operating Portfolio H1 Operating Highlights: Outlook Updated After Challenging Q2 HIGHLIGHTS H1 AND 2021 OUTLOOK • Attributable production guidance reduced due to: H1 Updated Prior 2021 Guidance Guidance • Lower actual production in H1 from Westwood
Slide 8: Environmental, Social and Governance (ESG)
OCTOBER 2021 CORPORATE PRESENTATION II Culture of Accountable Mining Environmental, Social and Governance (ESG) Zero Harm® is our commitment to continually strive to reach the highest standards in human health & safety, minimize our environmental footprint, and work co-operatively with our host comm
Slide 9: Environmental, Social and Governance (ESG)
OCTOBER 2021 CORPORATE PRESENTATION II Culture of Accountable Mining Environmental, Social and Governance (ESG) INITIATIVES & • Commissioned one of the world’s largest hybrid solar/thermal plants at Essakane HIGHLIGHTS • Public-Private Partnership with Canada’s Gov’t, One Drop Foundation, and Cowate
Slide 10: COVID-19: Q2 2021 Update
OCTOBER 2021 CORPORATE PRESENTATION II Culture of Accountable Mining COVID-19: Q2 2021 Update Health & Safety Protocols Embedded in our Operations and Projects • Rosebel – increase in cases in Suriname during Q2 • Workforce availability and productivity and site leadership were impacted by illness,
Slide 11: Côté Gold: Construction on Schedule
OCTOBER 2021 CORPORATE PRESENTATION III Compelling Value & Production Growth Côté Gold: Construction on Schedule1 ~27% ~82% $930 – $980M REMAINING COSTS2 ONTARIO PROJECT COMPLETION DETAILED ENGINEERING QUÉBEC Q2 2021 Progress Kapuskasing Timmins • Procurement and expediting of major equipment contra
Slide 12: Côté Gold: Costs Updated in July 2021
OCTOBER 2021 CORPORATE PRESENTATION III Compelling Value & Production Growth Côté Gold: Costs Updated in July 20211 SUMMARY PROJECT COSTS UPDATE • Project review identified certain estimated project costs increases: July July 2020 2021 • Increased SMPEI* costs for the processing facility and increas
Slide 13: Project Timeline – Key Milestones
OCTOBER 2021 CORPORATE PRESENTATION III Compelling Value & Production Growth Project Timeline – Key Milestones 2020 2021 2022 2023 2024 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Project Completion ~27% Project Costs1 $193M $301M $510 – $540M $120 – $140M Remaining Estimated Allocation of
Slide 14: Côté Construction Progress: October 2021
OCTOBER 2021 CORPORATE PRESENTATION III Compelling Value & Production Growth Côté Construction Progress: October 2021 VIEW JULY 2021 PROJECT SITE VIDEO CLAM LAKE DAM CONCRETE FORM WORK NEW FISH HABITAT STARTER PIT MILL FOUNDATIONS 14
Slide 15: Côté Gold: Meaningful Scale and Mine Life (100% basis)
OCTOBER 2021 CORPORATE PRESENTATION III Compelling Value & Production Growth Côté Gold: Meaningful Scale and Mine Life (100% basis) Gold production (koz) – 100% Average feed grade (g/t) 1.44 1.42 1.29 1.26 1.17 1.12 1.11 0.97 0.99 1.01 1.00 0.90 0.81 0.84 559 549 0.63 0.46 0.42 0.42 500 488 District
Slide 16: Liquidity Position
OCTOBER 2021 CORPORATE PRESENTATION IV Financial Capacity Liquidity Position AVAILABLE LIQUIDITY NET CASH Q2 Q1 Q4 (In $ Millions) 2021 2021 2020 Undrawn Cash, equivalents & STI $829.8 $967.8 $947.5 Credit Facility1 Lease liabilities ($62.2) ($63.8) ($66.8) $500 M Long term debt3 ($473.5) ($475.2) (
Slide 17: Robust Exploration Pipeline
OCTOBER 2021 CORPORATE PRESENTATION V Robust Pipeline of Projects Robust Exploration Pipeline West Africa North America South America Essakane Westwood UG Rosebel >5 Moz Au Production Grand Duc Saramacca >2 Moz Au <2 Moz Au Côté Construction Brownfield Advanced Greenfield Greenfield Boto Fayolle Fea
Slide 18: 2021 Milestones
OCTOBER 2021 CORPORATE PRESENTATION 2021 Milestones1 Updated Target Progress Essakane Completion of mill optimization project Q1 2021 Completed Rosebel Completion of Saramacca non-critical infrastructure H1 2022 Ongoing Westwood Westwood underground re-start2 H2 2021 On track Start of major earthwor
Slide 19: Operations
OCTOBER 2021 CORPORATE PRESENTATION Operations Hybrid Solar/Thermal Plant at Essakane Gold Mine • Commissioned in 2018 • 15 MWp solar plant produces ~27 MWh of carbon-free electricity per year • ~130,000 photovoltaic panels • Supplements an existing 57 MW thermal plant • One of the world’s largest h
Slide 20: Essakane Gold Mine, Burkina Faso
OCTOBER 2021 CORPORATE PRESENTATION Essakane Gold Mine, Burkina Faso 20
Slide 21: Essakane – Stable Producer of ~400kozpa on a 100% basis
OCTOBER 2021 CORPORATE PRESENTATION Essakane – Stable Producer of ~400kozpa on a 100% basis OVERVIEW KEY NOTES North-eastern Burkina Faso, West Africa Ownership • 90% IAMGOLD, 10% Government of Burkina Faso CIL (carbon-in-leach) Debottlenecking Mining • Conventional open pit Mill upgrade project c
Slide 22: Rosebel Gold Mine, Suriname
OCTOBER 2021 CORPORATE PRESENTATION Rosebel Gold Mine, Suriname 22
Slide 23: Rosebel – Long Operating History with District Potential
OCTOBER 2021 CORPORATE PRESENTATION Rosebel – Long Operating History with District Potential OVERVIEW KEY NOTES Brokopondo district in north-eastern Suriname Ownership • Gross Rosebel Concession (RGM): 95% IAMGOLD, 5% Saramacca Satellite Deposit Government of Suriname Production ramp-up complete i
Slide 24: Rosebel: Focus Areas for the Remainder of 2021
OCTOBER 2021 CORPORATE PRESENTATION Rosebel: Focus Areas for the Remainder of 2021 Challenges Mitigations Mandatory antigen testing program implemented & all workers on the 14/7 work rotation being tested to reduce the impact on COVID-19 impacts on operations; workforce availability and productivi
Slide 25: Westwood Gold Mine, Canada
OCTOBER 2021 CORPORATE PRESENTATION Westwood Gold Mine, Canada 25
Slide 26: Westwood – Established Base in Prolific Abitibi Gold Camp
OCTOBER 2021 CORPORATE PRESENTATION Westwood – Established Base in Prolific Abitibi Gold Camp OVERVIEW KEY NOTES Northwestern Québec, Canada Ownership • 100% IAMGOLD Current Status Mining • Underground Method • Grand Duc satellite open pit Underground operations in the East CANADA Zone recommenced
Slide 27: Westwood – “Hub-and-Spoke” Model
OCTOBER 2021 CORPORATE PRESENTATION Westwood – “Hub-and-Spoke” Model ATTRACTIVE DISTRICT EXPLORATION POTENTIAL1 THAT COULD SUPPLEMENT EXCESS MILL CAPACITY FAYOLLE PROPERTY (OP) A B ROUYN GOLD PROJECT (UG) 100% ACQUIRED FROM MONARCH GOLD IN JUNE 2020 A Fayolle OPTION TO ACQUIRE 100% FROM YORBEAU RESO
Slide 28: Development and Exploration Projects
OCTOBER 2021 CORPORATE PRESENTATION Development and Exploration Projects 28
Slide 29: Gosselin Zone: Exploration Target Potential of 3-5 Moz Near Côté
OCTOBER 2021 CORPORATE PRESENTATION Gosselin Zone: Exploration Target Potential* of 3-5 Moz Near Côté Ontario, Canada (64.75% ownership1) 2021 OUTLOOK • Côté district greenfield budget of $2.8 million GOSSELIN ZONE • ~13,000-16,000 metres of planned diamond drilling, (0.5 g/t Au grade shell)* with 1
Slide 30: Bambouk District: Boto – Karita – Diakha-Siribaya
OCTOBER 2021 CORPORATE PRESENTATION Bambouk District: Boto – Karita – Diakha-Siribaya Boto Gold (90% ownership) Yatela Deposit Operation 1.6Moz • Along same trend as B2Gold’s Fekola Mine in Mali Sadiola RESERVES1 • Mining permit received in 2019 for a period of 20 years2 2.0Moz • 2019 Optimization S
Slide 31: Chibougamau: Emerging Prospective District in Québec, Canada
OCTOBER 2021 CORPORATE PRESENTATION Chibougamau: Emerging Prospective District in Québec, Canada NELLIGAN (75% JV INTEREST) • Located 60 kilometres southwest of Chibougamau, Québec • Exercised option to increase undivided interest to 75% (from 51%), following completion of NI 43-101 Technical Report
Slide 32: Advancing Exploration Activities in Key Districts
OCTOBER 2021 CORPORATE PRESENTATION Advancing Exploration Activities in Key Districts IP Survey – Saramacca, Suriname 2021 EXPLORATION BUDGET H1 2021 (US$ millions) 2021 Guidance Exploration – Greenfield $14.8 $33 Exploration – Brownfield1 $9.3 $23 Total Exploration Expenditures $24.1 $56 7% 5% Dril
Slide 33: IAMGOLD – Positioned for Profitable Growth
OCTOBER 2021 CORPORATE PRESENTATION IAMGOLD – Positioned for Profitable Growth Diversified Operating Culture of I Portfolio II Accountable Mining Robust Pipeline Strong Compelling Value & V of Projects ESG III practices Production Growth IV Financial Capacity 33
Slide 34: Appendix
OCTOBER 2021 CORPORATE PRESENTATION Appendix 34
Slide 35: 2021 Updated Outlook
OCTOBER 2021 CORPORATE PRESENTATION 2021 Updated Outlook1 PRODUCTION & COST GUIDANCE vs YTD 2021 CAPITAL EXPENDITURE GUIDANCE vs YTD 20211 2021 Actual Sustaining Expansion1 Total (000s oz) GUIDANCE1 YTD 2021 ($ millions) Guidance YTD Guidance YTD Guidance YTD Essakane (90%) 390 – 400 208 Essakane $4
Slide 36: H1 2021 Operating Highlights
OCTOBER 2021 CORPORATE PRESENTATION H1 2021 Operating Highlights Attributable Capital Production Cash Costs1 AISC1 Expenditures2 (000s oz) ($/oz sold) ($/oz sold) ($ millions, 100%) Essakane (90%) 208 $913 $1,061 $49.8 Rosebel (95%) 72 $1,412 $1,732 $44.6 Westwood (100%) 15 $1,552 $1,743 $4.3 Projec
Slide 37: Reducing Input Exposure Through Hedging
OCTOBER 2021 CORPORATE PRESENTATION Reducing Input Exposure Through Hedging 2021 2022 2023 2024 Foreign Currency Canadian dollar contracts1 (millions of C$) 156 330 185 – Rate range1 (USDCAD) 1.28 – 1.47 1.30 – 1.48 1.30 – 1.46 – Hedge ratio2 31% 37% 38% – Commodities3,4 Brent oil contracts (barrels
Slide 38: Côté Gold – Mineral Reserves and Resources (100% Basis)
OCTOBER 2021 CORPORATE PRESENTATION Côté Gold – Mineral Reserves and Resources (100% Basis) UNLOCKED SIGNIFICANT EXPLORATION VALUE SINCE 2012 ACQUISITION (100% basis, Moz Au) MEASURED & INDICATED Côté Mineral Reserves & Resources (YE20)2 INFERRED Tonnes Grade Ounces Category (000’s) (g/t) (000’s) 10
Slide 39: Gold Mineral Reserves – Attributable
OCTOBER 2021 CORPORATE PRESENTATION Gold Mineral Reserves – Attributable As at December 31, 2020 PROVEN PROBABLE TOTAL RESERVES Effective Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces DEPOSIT Location Ownership (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) (000’s) (g/t) (000’s) Rosebel 1
Slide 40: Gold Mineral Resources – Attributable
OCTOBER 2021 CORPORATE PRESENTATION Gold Mineral Resources1,2 – Attributable (Measured & Indicated Resources are inclusive of Proven & Probable Reserves) As at December 31, 2020 MEASURED INDICATED MEASURED + INDICATED INFERRED Effective Tonnes Grade Ounces Tonnes Grade Ounces Tonnes Grade Ounces Ton
Slide 41: Notes to the Gold Mineral Resources Statement
OCTOBER 2021 CORPORATE PRESENTATION Notes to the Gold Mineral Resources Statement 1 In mining operations, Measured Mineral Resources and Indicated Mineral Resources that are not Mineral Reserves are considered uneconomic at the price used for Mineral Reserve estimations but are deemed to have a reas
Slide 42: Philip Rabenok, Manager, Investor Relations
OCTOBER 2021 CORPORATE PRESENTATION Philip Rabenok, Manager, Investor Relations 416-933-5783